M5-21. Evaluating Accounts Receivable Turnover for Competitors LO5 The Procter & Gamble Company (PG) Colgate-Palmolive Company (CL) The Procter & Gamble Company and Colgate-Palmolive Company report the following sales and accounts receivable balances (S millions) for 2015 and 2014. Procter &Gamble Colgate-Palmolive Accounts Receivable Accounts Receivable $ millions Sales 2015. . .. 2014 .. $76,279 80,510 $4,861 6,386 Sales $16,034 17,277 $1,427 1,552 a. Compute the accounts receivable turnover and DSO for both companies for 2015 b. Identify and discuss a potential explanation for the difference between these competitors' accounts receivable ratios